Comparative Advantages?
I am looking for interesting examples of comparative advantages used today - I am writing a paper for my econ class on David Ricardo and need to describe the application of comparative advantages to the global economy of the 21st century.
Answer:
There are three example in this source:
http://en.wikipedia.org/wiki/comparative...
Textiles from China - their comparative advantage is in cheap and abundant labor
Electronics from Japan - tradition of full effort at work and attention to detail
Technological Innovation from US - due to large government and private spending on research and development.
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Answer:
There are three example in this source:
http://en.wikipedia.org/wiki/comparative...
Textiles from China - their comparative advantage is in cheap and abundant labor
Electronics from Japan - tradition of full effort at work and attention to detail
Technological Innovation from US - due to large government and private spending on research and development.
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